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Recent AAHOA Advocacy Updates

A Narrow Path Clears in the Senate for President Biden’s Economic Agenda

On Monday, April 5, the Senate Parliamentarian ruled that the budget reconciliation process, a tool used to pass the American Rescue Plan without Republican support back in early March, can be used again to pass fiscal legislation with a simple majority. The ruling would allow Congressional Democrats to bypass the 60-vote filibuster, essentially circumventing Congressional Republicans who to this point have been obstinate to support any aspect of President Biden’s economic recovery plan. However, Biden will need every member of the Senate Democratic caucus on board given the party’s narrow majority in both chambers. The American Jobs Plan, the next component of Biden’s three-pronged agenda, is expected to debut in Congress in May. We will keep AAHOA Members apprised of any further updates.  


Small Business Administration (SBA) Reopening the Economic Injury Disaster Loan (EIDL) Program with New Loan Maximum Amounts

On March 24, the SBA announced an increase to the maximum loan amount borrowers can receive through the EIDL program. Starting Tuesday, April 6, the loan limit for the EIDL program will be raised from six months of economic injury with a maximum loan amount of $150,000 to up to 24 months of economic injury with a maximum loan amount of $500,000. Visit our CARES Act lending page or contact your lender or local SBA office for more information.

SBA Deploys New Tool to Expedite PPP Applications

The Small Business Administration launched a tool to clear “hold codes” that have prevented PPP applicants from applying after the loan program rebooted in January. The hold codes began appearing around the reboot following the implementation of procedures to prevent illicit and fraudulent applicants from taking advantage of the PPP. However, these new security measures prevented numerous legitimate applicants from receiving PPP funds. An SBA procedural notice on the topic indicates that a new model and lender certification framework will help resolve the issue. AAHOA will keep members updated on further PPP developments. 



SBA Second Draw

PPP Second-Draw Guidance and Updates

New Guidance from the SBA Released March 18

    New Guidance from the SBA Released March 16



    SBA releases Adjustment Plan to programs in the Economic Aid Act

    On Jan. 19, 2021, the SBA issued two notices detailing the Adjustment Plan to microloan programs authorized by the Economic Aid Act, and amendment to the Coronavirus Aid, Relief and Economic Security Act passed last March. Due to insufficient funding in the $3.5 billion allocated to the programs, the SBA is reducing the number of months provided for 7(a) and 504 Microloan Programs. The Adjustment Plan went into effect on Tuesday, February 16. Contact your lender or SBA District Office for more information and questions on the matter. 

     


    • Paycheck Protection Program (PPP) Update
      • Second Draw Paycheck Protection Program (PPP) Loans: How to Calculate Revenue Reduction and Maximum Loan Amounts Including What Documentation to Provide (Released 1/19/2021)
      • Reminder – First Draw PPP Loans Under Review May Be Delayed Getting Second Draw PPP Loan Number
        As described in SBA’s interim final rule on SBA Loan Review Procedures and Related Borrower and Lender Responsibilities, SBA may review any PPP loan, as the Administrator deems appropriate.  If a borrower’s First Draw PPP Loan is under review by SBA and/or information in SBA’s possession indicates that the borrower may have been ineligible for the First Draw PPP Loan it received or for the loan amount it received, the lender will receive notification from SBA when the lender submits an application for a guaranty of a Second Draw PPP Loan and will not receive an SBA loan number until the issue related to the unresolved borrower’s First Draw PPP Loan is resolved.  SBA will resolve issues related to unresolved borrowers expeditiously.

     




    AAHOA Member Financial Institutions* Participating in the Paycheck Protection Program

    *Please note, the following financial institutions are only accepting current/existing customers

    ALLIED MEMBER
    Creative Lending Solutions
    Prajesh N. Patel
    847-278-7310
    ppatel@clsolutionscorp.com
    www.clsolutionscorp.com

    ALLIED MEMBER
    Customers Bank
    Tiffany Kidd
    903-363-3848
    tkidd@customersbank.com
    www.customersbank.com/disaster

    ALLIED MEMBER
    Fountainhead Commercial Capital
    Chris Hurn
    407-233-1504
    chris@fountainheadcc.com
    www.fountainheadcc.com/ppp

    ALLIED MEMBER
    Live Oak Bank*
    Jamie Bourgeois
    910-375-5925
    jamie.bourgeois@liveoakbank.com
    www.liveoakbank.com/paycheck-protection-program-sign-up
    *If you are not a current Live Oak Bank customer, you can fill out this form to be notified by email once they have opened up the program to other businesses that are not current customers. 

    ALLIED MEMBER
    PHD Financial
    Paul Darrow
    561-508-7558, ext. 1
    paul@phdfinancialllc.com
    phdfinancialllc.com

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    State Affairs: AAHOA and Lodging Association Partners Advocate for Local Funding from the American Rescue Fund Plan Across the Country

    AAHOA has joined forces with our state lodging association partners, AHLA, NABHOOD, and the Latino Hotel Association to pen letters to the National Governors Association and U.S. Conference of Mayors on behalf of hospitality communities nationwide. While guidelines differ state to state, we will continue to educate state and local lawmakers on how they can best use these funds to help hoteliers on the road to recovery. 

    FloridaGovernor Ron DeSantis Signs SB 72, Civil Liability for Damages Relating to COVID-19

    Marking a big win for AAHOA and its advocacy efforts in Tallahassee, Gov. Ron DeSantis signed SB 72, a law protecting businesses from being held liable in certain COVID-19 related lawsuits. This was the first law the Governor signed this legislative session and will protect businesses, governments, and healthcare providers acting in good faith from baseless COVID-19-related lawsuits. AAHOA applauds the Florida Legislature and Gov. DeSantis for working together to pass this COVID-19 liability bill that will protect small businesses from frivolous lawsuits as they recover from the lingering economic crisis. 

    Kansas: Gov. Laura Kelly Reopens KANSASWORKS Centers
    Wednesday, March 31, Gov. Kelly visited a KANSASWORKS center to mark the relaunch of the Reemployment Services and Eligibility Assessment Program. Kansas’s unemployment levels are returning to prepandamcic levels, yet 40,000 positions remain vacant across a number of industries, including hospitality. As vaccines continue to roll out and more Americans become eligible, returning the workforce to small businesses remains essential to the nation’s economic recovery.


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    We Need Your Input: Take Our 1-Minute Survey Today!

    AAHOA would like to hear about how you are handing your business at this point in the COVID-19 pandemic. Your thoughts and insights during these times would be greatly appreciated as they will help guide our advocacy and outreach efforts to the appropriate elected officials and agencies. 

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    Resource Guide for AAHOA Members: How to Contact Your Congressional District Offices

    If you are looking for assistance with PPP or EIDL Loans, contacting the district office of your Representative or Senators can be helpful and make a big impact. AAHOA has created a brand-new guide to help walk members through how to find congressional district office contact information for their Representatives and Senators.



    AAHOA Updates

    What AAHOA and the Industry Are Fighting For

     
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